SAIFM RPE Foreign Exchange Market Practice Questions - SAIFM Registered Person Examination The Foreign Exchange Market Exam

In international currency market conventions, how is the USD/ZAR exchange rate pair quoted?

Direct quote in South Africa where USD is the base currency and ZAR is the quote currency Indirect quote in South Africa where ZAR is the base currency and USD is the quote currency European terms where 1 ZAR is expressed in terms of US Cents Reciprocal quote where both currencies serve as base currency simultaneously

Correct Answer:

Direct quote in South Africa where USD is the base currency and ZAR is the quote currency

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